EMI pensions trustees and new owners argue over fund contributions, with accounting for pensions at the heart of the battle
Accountancy Age, 18 Oct 2007
An accounting row has erupted between EMI's pensions trustees and the new owners of the company.
The trustees want EMI's new owners, private equity firm Terra Firma, to increase contributions to the fund. However, Terra Firma said that under pensions accounting standard IAS19 the pensions fund is £95m in surplus.
The Pensions Regulator said it was in discussion with both parties, the Daily Telegraph reported.
The regulator said that the pensions scheme's measurement under IAS 19 could be different to that required under the details of that specific scheme.
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